A LEVEL A2 MANUFACTURING ACCOUNTS QUESTIONS WITH SOLUTIONS AND FORMATS

ALEVEL A2 ACCOUNTING MANUFACTURING
ACCOUNTS QUESTIONS WITH SOLUTIONS (Paper 3)
[all formats for this topic are attached at the end of document]




Question 1) [9706/May/June/2017/32]

, RICHARD ANG

a)
Manufacturing Account for the year ended 31st July 2016
$ $
Raw Materials
Opening Inventory 14,800
Add: Purchases 207,600
Add: Carriage Inwards 6,800
229,200
Less: Closing Inventory (16,400)
Cost of Raw Materials 212,800
Direct Wages 171,500
Prime Cost 384,300
Factory Overhead
Indirect Wages 51,400
Rent 30,000
Factory Overhead (155000-24000) 131,000
212,400
596,700
Work In Progress
Opening Inventory 23,500
Less: Closing Inventory (20,200) 3,300
Cost of Production 600,000
Factory Profit 120,000
Transferred to the Trading Section of
Income Statement 720,000